Brokerages Set Newmont Co. (NYSE:NEM) Target Price at $52.62

Shares of Newmont Co. (NYSE:NEM) have received an average recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $53.31.

Several research firms have issued reports on NEM. BMO Capital Markets raised their target price on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. lowered Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. BNP Paribas raised Newmont to a “strong-buy” rating in a report on Friday, June 21st. Bank of America lifted their target price on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, CIBC upgraded Newmont from a “neutral” rating to a “sector outperform” rating and lifted their target price for the stock from $46.00 to $61.00 in a research report on Wednesday, July 10th.

Insider Buying and Selling

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the transaction, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,000 shares of company stock worth $3,434,640. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Newmont

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. LRI Investments LLC acquired a new position in Newmont during the 1st quarter worth about $25,000. Strategic Financial Concepts LLC acquired a new position in Newmont during the 2nd quarter worth about $25,000. Meeder Asset Management Inc. acquired a new position in shares of Newmont in the 2nd quarter valued at about $27,000. Heritage Wealth Advisors lifted its stake in shares of Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 878 shares during the period. Finally, Crewe Advisors LLC acquired a new position in shares of Newmont in the 1st quarter valued at about $35,000. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 0.5 %

Shares of NEM stock opened at $52.74 on Friday. Newmont has a fifty-two week low of $29.42 and a fifty-two week high of $56.30. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. The firm has a market capitalization of $60.82 billion, a PE ratio of -19.75, a P/E/G ratio of 0.47 and a beta of 0.50. The stock’s 50-day simple moving average is $51.62 and its 200-day simple moving average is $45.16.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. Newmont’s revenue for the quarter was up 64.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 earnings per share. Equities analysts expect that Newmont will post 2.88 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 5th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.90%. The ex-dividend date was Thursday, September 5th. Newmont’s payout ratio is -37.45%.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.